HomeMy Public PortalAbout11-16-1964 . 107
MINUTES OF THE MELTING OF THE COIvMON COUNCIL OF THE CITY OF
RICHMOND, INDIANA SERVING AS A COMMITTEE IN CHARGE OF.THE
OPERATION OF THE RICIIMOND POWER AND LIGHT PLANT.
The Common Council of the City of Richmond, Indiana serving as a committee in charge of
the operation of the Richmond Power and Light Plant, met in regular session in the
Council Chambers in the City Hall in said City, Monday, November 16, 1964, at the hour
of 7:00 o'clock p.m. Councilman Yount presiding with the following members being
present: Messrs. Backmeyer, Bell, Henn, Hilligoss, Hollingsworth, Marino, Paust and
Youngflesh. The following business was had, to-wit:
Councilman Marino moved the minutes of the previous meeting be dispensed with. This
motion was seconded by Councilman Youngflesh and on voice vote was unanimously carried.
Councilman Hollingsworth moved the bills be allowed, seconded by Councilman Marino and
on voice vote the motion was carried.
APPROVED THE FOLLOWING: .
Bills in the amount of $110,238.82
Payment of Int. Coupons-1953 Rev. Bonds 75.00
Transfers from Cash Operating Fund to:
Utility Bond Fund 33,656.26
Cash Reserve Fund 45,867.90
Depreciation Reserve Fund 36,000.00
Mr. Beck presented the following tabulations for the bid received November 2, 1964:
69KV TRANSMIISSION LINES
Bidder SECTION I SECTION II TOTAL BID
Reservoir Crossing Williamsburg Line
HOOSIER ENGR.
CO. COL., OHIO $ 7,607.50 . a 53,014.05 . e, 60,621.55
HATFIELD ELEC.
INDPLS.,IND. $ 9,820.00 $ 59,913.00 $ 69,733.00
IIIN.G.GILBERT
MUNCIE, IND. $$10,182.00 $ 75,341.00 $ 85,523.00
ELECTRICOM, INC.
PAOLI,. IND. $11,380.09 , 140,273.25 $151,653.34
Mr. Beck recommended the bid of the Hoosier Engr. Company for the total sum of $.60,621.55.
Councilman Marino moved the recommendation of the Genreal Manager be concurred with,
seconded by Councilman Youngflesh and on voice vote the, motion was unanimously carried.
Mr. Beck presented proof of publication printed in the Richmond Palladium-Item, a news-
paper of general circulation in the City of Richmond, Indiana that sealed proposals would
be received on the date of November 16, 1964 for furnishing the Power and Light Plant
with one (1) 1965 Chassis for the Line Department with a trade-in on one (1940) Inter-
national truck. Mr. Kemper examined the proof of publication and found the same to be
in order. -
Councilman Marino moved the proof of publication be filed, seconded by Councilman Bell
and on voice vote the motion was carried.
November 16, 1964 being the date designated to receive and open bids, the following bids
" were opened and read aloud:
CHASSIS BIDS
Bidder
Kurdy's Chevrolet, Inc. Tradein on International 5,079.87 (Net)
Fred First, Inc. " II If $4,281.37 (Net)
Councilman Marino moved the bids be referred to Mr. Beck for final tabulation and recommend.
ation.
Mr. Beck presented proof of publication printed in the Richmond Palladium-Item, a news-
paper of general circulation in the City of Richmond, Indiana, that sealed proposals
would be received on the date of November 16, 1964 for furnishing the Richmond Power
and Light Plant with a body for the Line Department truck. Mr. Kemper examined the
proof of publication and found the same to be in order.
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Councilman Marino moved the proof of publication be filed, seconded by Councilman
Hollingsworth and on voice vote the motion was unanimously carried.
November 16, 1964 being the date designated to receive and open bids, the following
bids were opened and read aloud:
BIDDER
Seastrcm Inc. ?11,934.00 (Net)
Stahl Metal Products 9,292.60 •
"
Cannon Engr. & Equip. 14,500.00 "
Nolan, Division of Ohio Brass 11,799.27 "
Delphi Body Works 10,618.50 "
McCabe—Powers 11,099.00 "
All bids quoted that there were options
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Councilman Marino moved -the bids be referred to Mr. Beck for final tabulation ation and
recommendation. This motion was seconded by Councilman Hollingsworth and on voice
vote was carried.
Mr. Beck presented and read the following:
E.C.Henn November 10,1964
Paul L.Backmeyer
Cyrus Hollingsworth
Finance Committee
- After the monthly transfer of funds next week to the Cash Reserve Fund, we will
have 3100,000.00 available for investment. Since the investments we have in this
fund which mature on November 30th and December 17th will give us ample funds for
the City dividend payment, we can invest this money in longer term securities.
A check of the bond market and a contact with the Second National Bank shows
that the best buy for us at this time would be U.S.Treasury. Bills maturing October
31, 1965, yield 3.77%.
On approval of the above purchase, we will place our order with the Second
National Bank.
/s/ E.S.Porter, Office Manager.
Councilman Henn moved the General Manager be authorized to make the above purchase
of U.S.Treasu ' bills in the sum of 0100,000.00. This motion was seconded by
Councilman Youngflesh and on .voice vote was unanimously carried.
Mr. Beck reported that a leak had developed in one of the boiler tubes at the
;ihitewater Generating Station and it would take two or three days for said boiler to
cool down after being taken off the line to determine the extent of the leak.
Mr. Beck presented the Richmond Power and Light Proposed Budget for 1965. He said
that he had received an invitation from Mr. Russell Robbins, Pres. of the Robbins
Associates, South 7th and "A" Street, to inspect the new building which is com—
pletely electrically heated. Mr. Beck stated this would be a fine opportunity to
make this visit and afterwards discuss the 1965 Budget. after much discussion it
was decided that the visitation would be made to the Robbins Associates building
and then go to the Service Building on the date of November 23, 1964 for discussion`
of the budget.
Councilman Henn moved the General Manager be authorized to purchase ,the remaining
Revenue Bonds as follows before December 31, 1964 if the money is available:
10 bonds 3 % Maturing 1/1/1981 510,C00.00
8 bonds 3 % Maturing 1/1/1983 8,000.00
This motion was seconded by Councill:.an Backmeyer and on voice vote was unanimously
carried.
There being no further business presented, on motion duly made seconded and carried
the meeting adjourned.
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Ill
Charles O.Yount, C rman
-Attest: — C _
A ' er J. Reeg, ty C1e k
COUNCILMAN PAUST AND BACKMEYER ON THE BILLS FOR DECEMBER, 1964.